Resident Director for Foreign Company

Section 149 (3) of the Companies Act, 2013 has provided for residence of a director in India as a compulsory i.e. every company shall have at least one director who has stayed in India for a total period of not less than 182 days in the previous calendar year.

So if you are Incorporating a new company that has all the Director who are not Indian Resident, you need to hire one Indian Resident Director.

Duties and Responsibilities of Resident Director:

Resident Director will be fully responsible as Normal Director of the Company,

Resident Director will not be involved in operational control of the company.

Resident Director will be appointment to fulfill the statutory requirements .

Directorship will be covered under the officers and liability insurance.